Why Yellen’s Speech Will Likely “Underwhelm” The Market: Deutsche Bank’s Take

from Zero Hedge

The most important event of the day, if not week now that the monthly payrolls report has become meaningless in steering the Fed’s no-longer-US-but-Chinese-data-dependent-path, will be Yellen’s speech at the NY Economic Club shortly after noon local time.

As DB’s Alan Ruskin previews, this is an “an event that many hope will provide clarity on whether the market’s original interpretation of the FOMC dots/balance of risks/forecasts and Q&A in all its entirety, was as dovish as originally assumed; or, whether the subsequent more hawkish comments from various Fed officials was more in keeping with what the FOMC was trying to convey.”

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